I know, I know, Morgan Stanley’s investors have spoken, and there is no bond market bubble. But the federal government certainly is swimming in a sea of red ink.I hope we have asked the Bank of Japan…

Karl Rove is the Bush Administration’s economic policy czar, and de facto Treasury Secretary. In addition to responsibility for political affairs and strategic initiatives, Mr Rove has been appointe…

The Washington Post put out an oped on the partial privatization of Social Security over the weekend, which Kevin Drum appropriately jumped on.One item in the oped jumped out at me:The second risk i…

Because if the dollar was heading the other way, as the New York Times noted Wednesday morning, there is no one left at the Treasury to mind the store. Under Secretary for International Affairs John…

The market seems to have concluded that there is no need to put any pressure on the US to reduce its large external deficits. The dollar is up, at least against the euro. So is the renminbi for th…